Coal India asks subsidiaries to expediate security deposit refunds

Kolkata: Coal IndiaNSE 2.62 % has asked subsidiaries to expediate security deposit refunds under expired fuel supply agreements (FSA) to ease consumers’ hardship during the current lockdown period. The coal ministry has asked them to submit a timeline within they intend to return these.

In a letter to producing subsidiaries, Coal India observed that a number of consumers have lodged their grievance about delay in return of security deposit under FSAs years after expiry. The issue was also raised during the interactive session with executives from the non-regulated sector consumers.

“It was assured to the consumers that the subsidiary companies would expedite the process of refund of the security deposit or bank guarantee towards security deposit of the consumers’ against these FSAs.